Find the Range, Variance, and Standard Deviation for Each of the Two

question 34

Multiple Choice

Find the range, variance, and standard deviation for each of the two samples, then compare the two sets of results.
-When investigating times required for drive-through service, the following results (in seconds) were obtained. $\begin{array}{lllllllll}\text { Restaurant A } & 120 & 67 & 89 & 97 & 124 & 68 & 72 & 96\end{array}$
$\begin{array}{lllllllll}\text { Restaurant B } & 115 & 126 & 49 & 56 & 98 & 76 & 78 & 95\end{array}$

• A) Restaurant A: \(75 \mathrm { sec } ; 493.98 \mathrm { sec } ^ { 2 } ; 22.23 \mathrm { sec }\)
• Restaurant B: \(70 \mathrm { sec } ; 727.98 \mathrm { sec } ^ { 2 } ; 26.98 \mathrm { sec }\)
• There is more variation in the times for restaurant \(B\).
• B) Restaurant A: \(57 \mathrm { sec } ; 793.98 \mathrm { sec } ^ { 2 } ; 28.18 \mathrm { sec }\)
• Restaurant B: \(77 \mathrm { sec } ; 727.98 \mathrm { sec } ^ { 2 } ; 26.98 \mathrm { sec }\)
• There is more variation in the times for restaurant A.
• C) Restaurant A: \(57 \mathrm { sec } ; 493.98 \mathrm { sec } ^ { 2 } ; 22.23 \mathrm { sec }\)
• Restaurant B: \(77 \mathrm { sec } ; 727.98 \mathrm { sec } ^ { 2 } ; 26.98 \mathrm { sec }\)
• There is more variation in the times for restaurant \(B\).
• D) Restaurant A: \(57 \mathrm { sec } ; 493.98 \mathrm { sec } ^ { 2 } ; 22.23 \mathrm { sec }\)
• Restaurant B: \(56 \mathrm { sec } ; 727.98 \mathrm { sec } ^ { 2 } ; 32.89 \mathrm { sec }\)
• There is more variation in the times for restaurant \(B\).

Understand how excise taxes affect consumer surplus, producer surplus, and deadweight loss.

Identify the relationship between tax rates and tax revenue in the context of elasticity.

Understand how government policies, such as excise taxes, can influence market outcomes and efficiency.

Explore the effect of removing excise taxes on market surplus and government revenue.

---

Definitions:

Sample Proportion

The fraction or percentage of the sample that represents a particular trait or characteristic of interest.

Null Hypothesis

A hypothesis that assumes no significant difference or effect exists between specified populations or variables.

Population Proportion

The fraction or percentage of a population that shares a particular characteristic or attribute.

Sample Proportion

The proportion or percentage of the sample that has a particular characteristic, often used to estimate the true population proportion.